UK: House prices: Another four years to make a full recovery

House prices are not set to reach their pre-recession levels for another four years, according to research from the Centre for Economics and Business Research.
The think-tank expects prices will continue to edge up slowly – by 0.8 per cent this year – as the mortgage famine affecting people’s ability to buy gradually eases. “Lending for housing was £74.5bn in 2011 and we forecast this will rise to £109.9bn by 2016,” says Shehan Mohamed, the report’s author………………………………………..Full Article: Source